Laurentian Lowers Birchcliff Energy Ltd. (BIR) Price Target to C$9.00
Birchcliff Energy Ltd. (TSE:BIR) had its price objective dropped by stock analysts at Laurentian from C$10.00 to C$9.00 in a research report issued to clients and investors on Friday. Laurentian’s target price would suggest a potential upside of 63.64% from the company’s current price.
BIR has been the subject of several other reports. Royal Bank Of Canada increased their price objective on shares of Birchcliff Energy from C$9.00 to C$11.00 in a report on Thursday, July 20th. Raymond James Financial, Inc. increased their price objective on shares of Birchcliff Energy from C$9.75 to C$10.25 and gave the company an “outperform” rating in a report on Friday, August 11th. National Bank Financial decreased their price objective on shares of Birchcliff Energy from C$10.00 to C$9.25 and set an “outperform” rating for the company in a report on Wednesday, August 2nd. Finally, Laurentian Bank of Canada increased their price objective on shares of Birchcliff Energy from C$9.00 to C$10.00 in a report on Friday. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Birchcliff Energy presently has a consensus rating of “Buy” and an average target price of C$11.30.
Shares of Birchcliff Energy (TSE:BIR) traded down 3.09% during midday trading on Friday, reaching $5.33. The company’s stock had a trading volume of 2,287,695 shares. Birchcliff Energy has a 1-year low of $5.29 and a 1-year high of $10.50. The stock has a 50 day moving average of $5.90 and a 200-day moving average of $6.35. The company has a market capitalization of $1.41 billion and a P/E ratio of 24.79.
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In other Birchcliff Energy news, insider Myles Bosman bought 5,700 shares of Birchcliff Energy stock in a transaction that occurred on Thursday, October 5th. The stock was purchased at an average cost of C$5.56 per share, for a total transaction of C$31,692.00. Insiders have purchased 20,400 shares of company stock valued at $116,783 over the last 90 days.
About Birchcliff Energy
Birchcliff Energy Ltd. is an intermediate oil and natural gas company. The Company is engaged in the exploration for and the development, production and acquisition of petroleum and natural gas reserves in Western Canada. Its operations are concentrated within core area, the Peace River Arch, which is centered over 90 kilometers northwest of Grande Prairie, Alberta, adjacent to the Alberta/British Columbia border.
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